Robinhood Q2 results top estimates as crypto, options trading jumps

Investing.comAug 8, 2024 12:43 AM

Investing.com -- Robinhood reported Wednesday second-quarter results that topped Wall Street estimates spurred by a surge in cryptocurrency and options trading on its trading platform.

Robinhood Markets Inc (NASDAQ:HOOD) was flat in afterhours trading following the report.

The company reported earnings of $0.21 per share on revenue of $682 million. Analysts were expecting earnings of $0.15 a share on revenue of $682M.

Revenue surged 40% in Q2 from a year earlier, driven by 69% jump in the transaction revenue, with crypto and options transaction revenue leading the gains, up 161% and 43% respectively.

Monthly active users increased 9% year-over-year to 11.8 million.

Looking ahead, the company said its operating expenses for full-year 2024 is unchanged at $1.85 billion to $1.95 billion.

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